Senators Gregg and Sununu Announce Elderly Housing Grants For New Hampshire

HUD approves Section 202 funding for projects in Bristol, Pembroke, Swanzey

WASHINGTON, October 28, 2007- U.S. Senators Judd Gregg and John Sununu (R-NH) today announced that the U.S. Department of Housing and Urban Development (HUD) approved Section 202 Supportive Housing for the Elderly grants for senior housing initiatives in Bristol, Pembroke and Swanzey. Southern New Hampshire Services will receive $2.7 million to construct 19 units of elderly housing in Bristol; Community Action Program Belknap-Merrimack Counties, Inc., will receive $2.4 million for 17 units of elderly housing in Pembroke; and Southwestern Community Services will receive two grants of $2.7 million each for a two-phase project in Swanzey which will ultimately construct 38 new units of elderly housing.

Senator Gregg stated, “This funding will help provide affordable and quality housing for our senior citizens. I’m pleased Bristol, Pembroke, and Swanzey will benefit from the improved services and economic impact that these projects will have on their communities.”

Senator Sununu, stated, “These grants will address a profound need in New Hampshire for more housing for our low-income seniors. When completed, these projects will allow seniors in Bristol, Pembroke and Swanzey to remain a vital part of their communities for years to come. In Swanzey alone, the federal government will inject more than $5 million in construction funds into the area, which will benefit the whole community.”

Gale Hennessy, Executive Director of Southern New Hampshire Services, said, “Southern New Hampshire Services welcomes this opportunity to bring new and affordable housing for seniors to the Bristol area. We greatly appreciate the continued support Senators Sununu and Gregg have given to the housing programs in New Hampshire.”

William A. Marcello, the Chief Executive Officer of Southwestern Community Services, stated, “Southwestern Community Services is very excited to be partnering with the Town of Swanzey and HUD to provide this much-needed housing for our senior population. We appreciate Senator Sununu’s support in working with SCS and town officials to make this development a reality. This represents a great example of a public/private partnership. Often, this type of partnership is the primary ingredient for success.”

The HUD Section 202 Supportive Housing for the Elderly funding in New Hampshire will be allocated as follows:

• Southern New Hampshire Services: $2.7 million to construct 19 one-bedroom units for the elderly in Bristol, along with a five-year rental subsidy of $211,200

• Community Action Program Belknap-Merrimack Counties, Inc.: $2.4 million to construct an additional 17 units of elderly housing in Pembroke, along with a five-year rental subsidy of $189,000.

• Southwestern Community Services, Inc.: Two grants of $2.7 million each for a two-phase elderly housing project in Swanzey, along with two five-year rental subsidies of $211,200 each. The phases will be located on the same piece of property and involve construction of 19 housing units for a total of 38 units. In what is believed to be a first for the agency, both phases were awarded grants in the same funding round.

HUD’s Section 202 program provides capital advances to finance the construction, rehabilitation or acquisition of structures that will serve as supportive housing for very low-income elderly persons, including the frail elderly, and provides rent subsidies for the projects to help make them affordable. HUD provides interest-free capital advances to private, nonprofit sponsors to finance the development of supportive housing for the elderly. The capital advance does not have to be repaid as long as the project serves very low-income elderly persons for 40 years.